Wednesday, 22 July 2015

Decision 613/2015

Clearance of the proposed acquisition, according to Article 6 par. 1-3 of L. 3959/2011, as in force, by OPTIMA S.A. of sole control over QUALITY BRANDS INTERNATIONAL S.A. through the increase of the former to the latter’s holdings to 100%.

Decision 613/2015
File (PDF) Decision 613/2015
Date of Publication of Decision July 22nd, 2015
Issue Number of Government Bulletin
Relevant Market Cheese Products
Subject of the Decision Merger
Legal Framework Phase Ι(Article 8 par. 6 L. 3959/2011)
Operative part of the Decision Clearance
Acquiring company(ies)


Target company


Summary of Decision

By its unanimous Decision No. 613/2015, the Hellenic Competition Commission (HCC) approved, under Greek merger control rules, the proposed transaction consisting in the acquisition of 52,93% of the shares in QUALITY BRANDS INTERNATIONAL S.A. by OPTIMA S.A.

OPTIMA is active in both the production (through EPIRUS SA) and the distribution (wholesale and retail) of cheese products. Similarly, QUALITY BRANDS INTERNATIONAL is active in the trading of cheese products in Greece.

The relevant market concerned is the market for cheese products. The exact delimitation of the said market is not necessary in the context of assessing the transaction at issue, as, even in the light of the strictest scenario/definition and in any case, the operation of effective competition is not expected to be restricted under any alternative definition (mainly due to the relatively limited activities and market shares of the companies concerned). The relevant geographical market is considered to be the Greek territory, where the companies OPTIMA and QUALITY BRANDS INTERNATIONAL operate under sufficiently homogeneous competitive conditions.

According to the decision, no substantial change in the structure of the relevant markets, actual or potential competition and alternatives of choice for suppliers and customers as a result of the notified transaction and, therefore, it is not expected to significantly affect or restrict competition.

Judicial Means Final. Decision has not been appealed
Decisions by the Court of Appeal of Athens (Administrative Division) -
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